The paper combines a brief review of basic monetary theory, a discussion of the critical monetary and banking experience underwent by Argentina between 1980 and 2002, an essay on the stability of velocity of circulation and a proposal for reform. Our thesis is that after a hyperinflation episode...

The profit-maximizing and oligopoly bank model developed by Bresnahan and Lau allows determining the degree of market power held by an average bank. The equilibrium price equation includes a mark up, which is not used in the case of perfect competition but which is partially used in the case of...